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asset, debit
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Which type of account is prepaid expenses?
Prepaid expense is personal account in nature and default normal balance is debit balance and shown under current asset in asset side of balance sheet.
What is the normal balance of a prepaid insurance account?
Debit.
What is the normal balance of a expense account?
debit
What is the normal balance of an expense account is?
Debit
Is debit the normal balance in an expense account?
Yes it is.
Which type of account is prepaid expenses?
Prepaid expense is personal account in nature and default normal balance is debit balance and shown under current asset in asset side of balance sheet.
What is the normal balance of a prepaid insurance account?
Debit.
What is the normal balance of a expense account?
debit
What is the normal balance of an expense account is?
Debit
Is debit the normal balance in an expense account?
Yes it is.
The account type and normal balance of prepaid expenses?
1. asset, debit 2. expense, debit 3. revenue, credit 4. liability, credit which one of them???
The classification and normal balance of the supplies expense account is a or an?
liability with a credit balance
What is the classification and normal balance of the supplies expense account?
debit
Is cogs normal debit or credit account?
COGS is expense account and all expenses has debit balance as default normal balance so COGS also has debit balance.
What is the normal balance for prepaid rent?
Prepaid rent is a rent paid in advance so it is current asset and it will have debit balance as normal balance.
Is Accumulated depreciation account is an expense account?
No. Accumulated Depreciation is a contra-account which appears on the asset side of the Balance Sheet. It is a credit balance account which reduces the value of Fixed Assets to reflect their declining value due to age and use. The normal offset to an entry to the Accumulated Depreciation account is a debit to Depreciation Expense.
Which T-accounts follows the rules of debit and credit in relation to increases and decreases in the opposite manner?
Normal Balance Debit: (Asset, Expense, Dividend) Accounts Receivable Inventory Equipment Supplies Prepaid Rent Prepaid Insurance Cash Supplies Expense Depreciation Expense Rent Expense Salaries Expense Cost of Goods Sold Normal Balance Credit: (Liability, Shareholder Equity, Revenue, Retained Earnings) Accounts Payable Salaries Payable Accumulated Depreciation Retained Earnings Unearned Revenue Service Revenue Common Stock
